Craig Wright has to pay 5 billion euros in bitcoin after losing the trial

Good/bad news! Craig Wright lost the Kleiman trial. The judge ordered Wright to give up half of his bitcoin from before 2014 at the Kleiman camp. The value of all this bitcoin is around five billion euros.

Contents hide

1 Half of 1.1 million bitcoin

2 Unfortunately no statement about Satoshi

3 How is he going to pay for that?

4 Related posts:

Half of 1.1 million bitcoin

Florida Southern District Court judge, Bruce Reinhart, says Kleiman’s relatives and representatives are entitled to half of all bitcoin and intellectual property that Wright owned before 2014.

In 2018, Ira Kleiman, brother of Wright’s deceased business partner Dave Kleiman, sued Craig Wright. Wright is said to have made efforts to appropriate 1.1 million bitcoin. These coins were jointly owned by Wright and Kleiman.

From that moment it didn’t get any better, it even became an outright soap. Craig Wright tried to fake documents and he lied under perjury in an attempt to get Kleiman’s five billion dollars worth of bitcoin. All those bitcoins come from Florida-based W&K Info Defense Research, a company that the two used to mine for.

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Unfortunately no statement about Satoshi

Today, the judge confirmed that Craig Wright was indeed acting in bad faith in court. The judge rejected Wright’s testimony, found that he was injuring himself, found him in disdain, and found that he was forging documents. Unfortunately for the bitcoin community, the judge has not determined whether Craig Wright is the real Satoshi Nakamoto. Although his behavior in court certainly questions his title claims.

Shortly after the ruling, bitcoin SV tweeted maximalist Calvin Ayre that bitcoin SV would not be bothered by the ruling.

Though #CraigisSatoshi and this will be obvious to all in time (it is already smart to everyone), this is now moot. Real #Bitcoin #BSV is beyond any one person now… it is the world’s top utility platform with its unique in the world massive scaling and Craig did this for sure.
– Calvin Ayre (@CalvinAyre) August 26, 2019

However, the market decided differently: on Bitfinex, the value of Satoshi’s Vision dropped four percent compared to bitcoin. But BSV does not have much liquidity and many bitcoin SVs are in the hands of friends and associates of Wright. This makes it difficult to measure the actual impact of the ruling on the basis of market activity.

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How is he going to pay for that?

Suppose Wright has to sell five billion dollars in BSV to meet the requirements of the ruling, then that is a disaster for the market. It may also be that the court wants to force Wright to steal 550,000 bitcoin. Curious how they will get that done.

This is the second lawsuit that Wright has lost in a short time. Earlier, Wright claimed that Roger Ver bothered him. The British judge said there was little evidence that Wright’s reputation was damaged and that the US was a better jurisdiction to pass judgment.